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| Information for Landlords |
WHAT ARE THE LETTING OPTIONS?
Letting Only Service:
LETCO acts as an agent for the landlord in finding a tenant, the rent is paid from the second month of the tenancy agreement directly to the Landlord. The initial fee includes:
- Inspecting the property for suitability
- Advising where appropriate re insurance, safety regulations, reading of meters
- Setting up the agreement between LETCO and the Landlord(s) of the property
- Taking up full references of potential tenants
- Advertising the property at a fair rental value
- Accepting the deposit and initial months rent which is repaid to the landlord less the setting up fee
- Providing the landlord(s) and the tenant(s) with a six month shorthold tenancy agreement
- A cancellation fee is charged where prior to letting the property is withdrawn (see fees schedule)
On Going Management Service:
LETCO includes the following in the full management service:
- Inspecting the property for letting suitability
- Advising where appropriate re insurance, mortgagee, complying with safety regulations, reading of meters etc
- Preparation of the agreement between LETCO and the Landlord of the property
- Taking brief particulars at the property and a full inventory
- Interviewing perspective tenants and accompanied viewing of the property
- Taking up full references of the perspective tenant
- Accepting the deposit which is held by LETCO and initial months' rent which is repaid to the Landlord on a monthly basis, less fees
- Providing the Landlord and the tenant with a six month shorthold tenancy agreement
- Providing the Tenant with two keys and LETCO emergency contact number
- Providing the Landlord with monthly statement and rent, less management fees
- Provide annual statement for tax purposes
- LETCO will provide the Landlord with an estimate for works, renewal, redecoration as required
- LETCO undertakes to address an emergency such as plumbing by first contacting the Landlord, where this is not possible emergency repairs will proceed and the cost will be passed onto the Landlord
- By arrangement LETCO will oversee major repairs (£500+) for example where owners are oversees, (see fees schedule).
- Quarterly inspections to confirm that the property is in satisfactory order and not being misused contravening the shorthold tenancy agreement
- Renew the shorthold tenancy agreement at six month intervals unless alternative arrangements e. g. contractual periodic agreement has been agreed
- Arranging yearly safety checks of electrical and gas appliances (It is a statutory requirement that all gas appliances must be checked annually and electrical equipment checked periodically.)
- Checking out exiting tenants; inventory and clearance of utility bills (see fees schedule)
- Arranging for professional cleaners if appropriate
- A cancellation fee is charged where prior to letting the property is withdrawn (see fees schedule)
- Where a tenant buys the property from the landlord a fee of 1% of the selling price is charged by LETCO.
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